Can Shels get a License? / Shelbourne €10 Million in Debt

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Originally Posted by Jamjar

http://www.foot.ie/showthread.php?t=51777

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Threads merged

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Originally Posted by finnpark

If Ollie is in goals we won't score a thing. How do you get the ball past his head:confused:

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Oooh, really want to say something.
No, better off not taking the bait.

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Originally Posted by Risteard

Oooh, really want to say something.

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Me too - you say it first so I won't seem so bad :)

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Originally Posted by Risteard

Oooh, really want to say something.
No, better off not taking the bait.

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I think you already did mate... edit ...edit... ;)
(It was fairly sick though so best not repeat it eh? :o )

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Originally Posted by CuanaD

If 12million is the figure quoted from the Star, then I wouldn't believe it - their maths seems to include the 'double it, add your age' method normally:D

Going on PoorStudent's figures, they could be in the region of 7mil in debt, but on the other hand they are still due around 15mil upon the sale of Tolka (whenever, if ever, etc.). Looks like a cashflow problem only - all the money tied up in fixed asset.

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Its a lot more zserious then a cash flow. A DCC member went on Live radio 2 weeks ago and stated that any potential re-zoning of Tolka Park is 4 years away. Shels need the money now and I doubt Ivano Cafollo and Jerry O'Reilly are going to hand over any more money now.

The money from the developers is debt because they want to own Tolka Park as soon as possible and Shels cannopt give them that.

The rest is very easy to presume as close to fact. We know the revenue/wages/bonus debt is true and the other debt isnt all that difficult to take as true [or close to] because they are spending way more then Bohs and Bohs have lost similar amounts over the past 6 years and have kept the debt down via members loans, bonds, life membership and the Shopping Centre end deals.

It's also a situation where Shels liabilities are far in excess of their assets. As it stands Shels have an asset in the leasehold interest in Tolka, which at this moment in time (zoned ammenity/leisure i presume) is worth less than their reported liabilities.

They are not a viable entity and if they continue to trade it is likely that they will be doing so recklessly.

People will say that they Tolka Park has a potential value of x if resold. Try going into the High Court and say that if a, b and c happens we can realise x, they'll laugh at you.

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Originally Posted by BohsPartisan

I think you already did mate... edit ...edit... ;)
(It was fairly sick though so best not repeat it eh? :o )

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As someone else said, makes sense to stay in the silent majority.

At least someone got amused/ apalled.:)

So will Shels have their "Eircom League Champions" title stripped too? they might as well, seeing as they've nothing to defend and have lost everything else.

As a great Bohs fan once sang...

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I've been waiting such a long time,
looking out for a team
But they're not here
What's another year?

I've been waking such a long time,
reaching out for cash
But cash ain't near
What's another year?

What's another year
For someone who's lost everything that they own?
What's another year
For someone who's getting used to being alone?
(No fans, you've got no fans)

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Originally Posted by BohsPartisan

As a great Bohs fan once sang...

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Quality! Do they have just a 'shel' of a team now?
;)